We Shouldn’t “Kill” Bitcoin But Regulate: Former Bank of China Governor to CCTV
During an interview with China Central Television (CCTV), a predominant state television broadcaster, L H Li, the former governor of Bank of China, one of the largest banks owned by the Chinese government, and member of the People’s Congress, stated that the Chinese central bank should try to regulate Bitcoin companies and users rather than attempting to stop the adoption of Bitcoin. Can anyone or anything actually “kill” Bitcoin? Bitcoin runs on a peer-to-peer and decentralized architecture with the absence of centralized government and authority. Anyone within the network can initiate a....
Related News
“Bitcoin was built on a platform without national boundaries,” the Former Governor of the Bank of China, L H Li, said on CCTV Tuesday in China. “If you want to kill Bitcoin, it will be an impossible task. So it will continue to exist. What is important now is that we should properly regulate it.” Rumors in China have led bitcoin exchange executives to....
L H Li, former president of the state-owned Bank of China (the fifth-largest bank in the world) and a member of the Financial & Economic Committee at China’s People’s Congress, stated in an interview for CCTV, China’s predominant state broadcaster, that it’s impossible to kill bitcoin. According to a translation by Eric Zhao from the Chinese Academy of Science, Li says: “Bitcoin was built on a platform without national boundaries. If you want to kill bitcoin, it will be an impossible task. So, it will continue to exist. What’s important now is that we should properly regulate it.” The....
In this day of mass surveillance and privacy awareness, CCTV cameras are often forgotten about. But as it turns out, these monitoring devices can serve an even nefarious purpose, albeit unwillingly. Security researchers uncovered a botnet operating on 25,000 CCTV cameras. This attack targeted a small jewelry store website, which was unavailable for several days. Although most people are well aware of how CCTV cameras are small computers, one would never think of them as a tool for hackers. Granted, camera surveillance hacking occurs in tv shows and movies for bank heists and whatnot. But....
While there seems to be a lot of doubt regarding the future of cash right now, the governor of China’s central bank feels virtual currency will eventually replace this archaic method of transferring value. At the same time, PBOC governor Zhou Xiaochuan was quick to add how the Chinese government will regulate all virtual currencies used as legal tender, indicating there are no plans to embrace Bitcoin by any means. People’s Bank of China Believes In Virtual Currency. To many people, it doesn’t come as a surprise to hear the People’s Bank of China reinforced their earlier statement....
California Governor Gavin Newsom has vetoed a bill to regulate crypto in his state. He stressed that “a more flexible approach is needed” to “keep up with rapidly evolving technology and use cases” in the crypto sector.
Bill to Regulate Crypto in California Vetoed by Governor Newsom
The governor of the U.S. state of California, Gavin Newsom, vetoed a number of bills Friday, including Assembly Bill 2269 (AB 2269) which will establish a licensing and regulatory framework for cryptocurrency.
Assembly Bill 2269, titled “Digital financial....